Stella Dimoko Korkus.com: China Plans $40bn Investments In Nigeria’s Oil Pipeline

..

Thursday, 12 January 2017

China Plans $40bn Investments In Nigeria’s Oil Pipeline

The Chinese Foreign Affairs Minister, Mr Wang Yi, has disclosed that his government is planning to invest another $40billion on Nigeria’s oil pipeline.





The minister stated this yesterday at a bilateral meeting with his Nigerian counterpart, Geoffrey Onyeama in Abuja.
Yi said the proposed investment was in addition to the already-financed $22 billion projects and the $23 billion ongoing projects.


“China has already invested or financed a total number of $22billion projects here in Nigeria, another $23billion projects are on-going. In addition, we are also following up another over $40billion of investments which is on the pipeline,” he said.


The minister said he was in the country to implement the important agreement and cooperation reached between the Chinese and Nigerian presidents, as well as work closely to ensure that the outcome of the FOCAC summit are well implemented in Nigeria.


Yi reiterated the need for both China and Nigeria to deepen their strategic partnership to achieve further development and prosperity of both countries.
“In order to achieve further development and prosperity of the two countries, we need to strengthen our political mutual trust, further expand practical cooperation and deepen our strategic partnership,” he added.


He expressed optimism that his visit would play a key role in further strengthening the strategic partnership between China and Nigeria.
Speaking earlier, Onyeama said the relations between both countries have been very strong, with China’s $80 billion investments in Nigeria.


“You all know that in the area of infrastructure, which one of the priorities of the federal government’s diversification programme, the Chinese government has been showing a lot of cooperation with us in this area, helping us in area of transportation in particular, rail and airport projects,” he said.


He therefore expressed appreciation to the Chinese foreign minister for including Nigeria in his Africa iterinary which he said would further strengthen the strategic partnership between both countries.


from dailytrust


12 comments:

code009 said...

Welcome development

Esther Okoro said...

That's good.




God Bless Everyone.

Loveme Jeje said...

This chinko people, i dont know if to trust them or not.

Na dem sabi. They should not come and give us plastic pipeline ooo

Anonymous said...

what a pity that Nigeria is so blind to enslavement in the form of foreign debts. this is just another form of colonialism. How can Africa be blind to what China is doing? is there no sensible person in government or african government to see this as a trap? How do we pay? when do we pay back? with what do we pay back? natural resources in the form of exploitation? China is trying to take over Africa,and this doesn't feel good at all. I hope someone out there in the government sector will call our so called bilateral agreements with China to order. enslavement comes in different ways, and debt is surely one of them. Nothing good comes from china. if Africa is being exploited, I expect Nigeria to be wise and see beyond the immediate. such a shame! AU is so useless...

Anonymous said...

Things will start picking back up by April/May

Anonymous said...

Is better than allow one idiot loot the money! Instead of allowing an ass to go away with it, we will use it and pay debts and d whole nation will benefit from it! Na cos they see the money b4 Mk then loot am. If e Dey for clearing debts them for no thief plenty

Anonymous said...

Is better than allow one idiot loot the money! Instead of allowing an ass to go away with it, we will use it and pay debts and d whole nation will benefit from it! Na cos they see the money b4 Mk then loot am. If e Dey for clearing debts them for no thief plenty

Anonymous said...

I guess this so called investment are reasons our Government want Taiwan embassy to be close down in Nigeria after more than 20years of recognition. We just woke up one day and said Taiwan is not recognised by international community. What a shame...

Anonymous said...

@anonymous10:28 if someone gives you 40 billion dollars and there's one tiny nonentity noise maker contending against the giver, wont close down the entire history of such. Weeven tried leaving Lagos for trade purposes...40billion kwa? Nice job jare

usani osim said...

All this Chinese deals that will never pull through!

Who would ever invest in a country that lacks the mentality for investment?

Beth said...

In other words. China is buying Nigeria bit by bit..but what da hell, they're buying America too..so who cares?

Well done, China, the new World power!!

gentle said...

Exactly. Since Taiwan is a very rich country, China wants Taiwan to be incorporated back into it. They are worse bullies than the US.

Related Posts Plugin for WordPress, Blogger...